ParimalDevnath

ParimalDevnath

This is one more stock in Pharma segment which is showing sign of trend change. Chart speaks volumes. Earlier times also it faild to hold above 200 DMA and crashed. At present times, the difference is formation of a support base and then moving up to cross 200 DMA. Keep a close watch at 200 DMA.

ParimalDevnath

During last trading session, price pulled back towards 200 DMA. So this MA will decide the fate of the trend.

ParimalDevnath

Price at resistance zone in the middle of the chart. See how previous breakout at the middle of the chart has influenced world's major indices including Nifty. Let us see now again there occurs a breakout. Target can be 2876, precious high.

ParimalDevnath

Yesterday I covered this stock. Price rushing up from 200 DMA. This indicates that there is something cooking behind the curtain. However, it is possible that price can pull back towards 200 DMA to confirm the change in trend.

ParimalDevnath

One more IT stock at resistance zone. Taking out 464 and staying above the same can reach towards 480-498. This case is similar to Infy.

ParimalDevnath

As suggested earlier, Nifty is stuck in a small range. Today's correction was due to Fed interest rate hike. Sentiment was dented. There is a fear of foreign capital flying out. If huge capital is withdrawn by FIIs, Nifty should change trend and it can be known if Nifty goes and stays below 200 DMA. Fed hiked rate two times earlier. Nifty corrected and then...

ParimalDevnath

Nifty is stuck at the resistance zone. Neither bulls, nor bears are able to take control. So this has to be settled on either of the side. Though bulls are dominating on the OI table with strong position built at 10900 and 10800 Puts yet they are unable to push the price above the resistance level. Bears are lying low at 11000 Call. Major trend is up.

ParimalDevnath

Once upon a time (3-4 yrs ago) it was a great stock. Now beaten down just like many other pharma stocks. However of late there is some perceptible recovery in select pharma stocks. Lupin created a small base and trying to limp up. After more than one year price today has reached 200 DMA and this is worth noting since it changes the trend.

ParimalDevnath

Now price faces resistance at 291. If this is crossed, next resistance comes at 302-3. SL is a must in trading.

ParimalDevnath

This chart tells us how 200 DMA plays a significant role in deciding the fate of a stock is association with 100 and 50 DMA. Price consolidated at 200 DMA but could not give an upward breakout. Then broke down, which was accelerated by 50 crossing 200 DMA. Now price has reached a logical support level which is holding for many days and if the same is broken down...

ParimalDevnath

This is what happens when a stock breaks out!!!

ParimalDevnath

Is it ready to breakout? Good news about buy back proposal is a booster. If breaks out of the Rounding Bottom pattern, target could be 100+ points northwards.

ParimalDevnath

One more day, one more attempt by the bulls to move above the resistance zone. bulls are dominating at 10900 Puts. But bears are not giving up their grip on 11000 Calls. So downside is limited, so also upside. International horizon is cheerful.

ParimalDevnath

Price broke out of the consolidation. Good stock and good industry segment.

ParimalDevnath

Covered this study several times. Price is again at 200 DMA. This proves importance of 200 DMA. Expecting that negation with 200 DMA is about to be over.

ParimalDevnath

I covered this stock many times with the expectation of a breakout and today the same has occurred. Now staying above 1623 (the breakout point) price may make brisk upmove. Crossing and holding above 1643, price may be pushed towards 1706 in near future. I am slightly concerned about the Negative Divergence. Else, good move may be in the offing. Good stock and...

ParimalDevnath

The expected breakout has happened from the rectangular or narrow range consolidation. Now the real challenge lies at 1206-12. If this range is not taken out successfully by the bulls, we may expect one more consolidation. Price has been constantly supported by 50 DMA for last about 20 sessions. It is possible that price may again take support at 50 DMA.

ParimalDevnath

Closing above 200 DMA has lot of significance.